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Wednesday
Oct122011

Salary Negotiation: Knowing When, Why and How to Negotiate Your Salary 

Don’t get spooked by salary negotiation. Sure, it may seem like one of the toughest things you have to do. But that is most likely because you are unsure about how to conduct a salary negotiation or when it makes sense to negotiate. Furthermore, as a transition veteran, the very idea may be completely new.

It’s not an easy process, though. You do have to be careful because there is room for error on both sides of the negotiation. You might ask for too little and end up underselling yourself; or you might ask for too much, and knock yourself out of the running.

So how do you navigate the tricky task of salary negotiation? As with most things in life, the answer is really quite simple when its broken into a few handy steps.

Don’t be the First to Initiate a Salary Negotiation
Many people are timid when it comes to talking about their salary expectations. Some, on the other hand, aren’t timid enough. There is a gray area you will have to overcome here, but two rules will help you avoid mistakes. Don’t ask about the salary “point-blank” and have a strategy in you mind about salary negotiation before the actual discussion begins.

Generally, you should wait for the interviewer to bring up the subject of salary. If you do need to raise the subject, do so tactfully. Don’t try to pin your interviewer down to a specific annual salary, focus on salary range instead. Ask the following: “When you decided to fill this position, you established a salary range for this position. Will you share this range with me?”

The person who talks about money first, loses. Here’s why: If you’re the first to bring up the subject of money, you risk portraying yourself as someone for whom money is the only thing that matters. When you do this, you’re likely to put yourself out of the running.

Want to learn more? This blog post is an exceprt from our latest Career Transition Toolbox whitepaper. The toolbox is FREE to access for all e-newsletter subscribers. Subscribe today using the signup form on the homepage.

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